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Students missing out on free insurance
Monday, 30 July 2007
A number of students living in halls of residence could be claiming free contents insurance on their parent's policies, according to Moneysupermarket research.
Several leading insurers are offering consumers the option of adding any student family members to the policy, typical cover is £5,000 or 15 per cent on the sum of the original policy.
With a third of students likely to become the victim of a crime each year and with the cost of university on the increase, taking up this option is set to become much more popular.
Peter Gerrard, head of insurance research at Moneysupermarket, said: "A students life is an expensive one. With accommodation, tuition fees, and then pricy consumer goods such as laptops, contents insurance could be another costly addition."
He added: "However, it may not cost anything at all if students are able to take out cover under their parents' home contents policies. It's easy to do and will save much needed cash at a time when budgeting is tight."
Recent research by the National Audit Office has shown that more than 100,000 students drop out of university each year.